Piper Jaffray & Co. of Minneapolis agrees to a 10.5-year lease with a $4-million value for 15,022 sf in the Portales Corporate Center at 4800 N. Scottsdale Rd. in Downtown Scottsdale. The deal enables the stock brokerage company to consolidate two offices--one in Scottsdale and the other in the Camelback Corridor--into the new location by mid-September, Jim Watkins, a principal for Lee & Associates Arizona in Phoenix, tells GlobeSt.com. "This property was a logical choice because it was equidistant from both offices," he says. "By far it's the nicest building in the target area."

The 165,000-sf building, built in 1999, was 98% occupied upon the lease execution. The 36-acre Portales Corporate Center features mixed-use commercial offerings totaling 500,000 sf of office, 70,000 sf of retail space and a 40-room hotel. Rob Ryan of Forum Capital LLC in Scottsdale represented the local building owner, Anchor-Forum Portales LLC.

In Tempe, Pinnacle One Inc. signed a six-year lease renewal for an 8,800-sf office at 1620 W. Fountainhead Parkway in the Fountainhead Corporate Center. The payout is more than $1 million for Tempe-based construction management firm, which has operated at the location for 5.5 years.